Why the Economy Won’t Tank the Housing Market

Written by Treasure Island FL Mortgage Syndicated User on December 1, 2023. Posted in Housing Market Updates, Mortgage Treasure Island FL, Treasure Island FL Mortgage.

If you’re worried about a coming recession, you’re not alone. Over the past couple of years, there’s been a lot of recession talk. And many people worry, if we do have one, it would cause the unemployment rate to skyrocket. Some even fear that a spike in unemployment would lead to a rash of foreclosures similar to what happened 15 years ago.However, the latest Economic Forecasting Survey from the Wall Street Journal (WSJ) reveals that, for the first time in over a year, less than half (48%) of economists believe a recession will actually occur within the next year:“Economists are turning optimistic...

Is Owning a Home Still the American Dream for Younger Buyers?

Written by Treasure Island FL Mortgage Syndicated User on December 1, 2023. Posted in Buying Myths, Demographics, First Time Home Buyers, For Buyers, Housing Market Updates, Mortgage Treasure Island FL, Treasure Island FL Mortgage.

Everyone has their own idea of the American Dream, and it’s different for each person. But, in a recent survey by Bankrate, people were asked about the achievements they believe represent the American Dream the most. The answers show that owning a home still claims the #1 spot for many Americans today (see graph below): In fact, according to the graph, owning a home is more important to people than retiring, having a successful career, or even getting a college degree. But is the dream of homeownership still alive for younger generations?A recent survey by 1000watt dives into how the two...

Are the Top 3 Housing Market Questions on Your Mind?

Written by Treasure Island FL Mortgage Syndicated User on December 1, 2023. Posted in Buying Myths, First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates, Mortgage Treasure Island FL, Move-Up Buyers, Selling Myths, Treasure Island FL Mortgage.

When it comes to what’s happening in the housing market, there’s a lot of confusion going around right now. You may hear one thing in conversation with your friends, see something totally different on the news, and read something on social media that contradicts both of those thoughts. And, if you’re thinking about making a move, that can leave you with a lot of lingering questions. That’s where a trusted local real estate agent comes in.Here are the top 3 questions people are asking about today’s housing market, and the data to help answer them.1. What’s Next for Mortgage Rates?Mortgage rates...

A Real Estate Agent Helps Take the Fear Out of the Market

Written by Treasure Island FL Mortgage Syndicated User on November 1, 2023. Posted in Buying Myths, For Buyers, For Sellers, Housing Market Updates, Mortgage Treasure Island FL, Selling Myths, Treasure Island FL Mortgage.

Do negative headlines and talk on social media have you feeling worried about the housing market? Maybe you’ve even seen or heard something lately that scares you and makes you wonder if you should still buy or sell a home right now. Regrettably, when news in the media isn’t easy to understand, it can make people feel scared and unsure. Similarly, negative talk on social media spreads fast and creates fear. As Jason Lewris, Co-Founder and Chief Data Officer at Parcl, says:“In the absence of trustworthy, up-to-date information, real estate decisions are increasingly being driven by fear,...

Foreclosures and Bankruptcies Won’t Crash the Housing Market

Written by Treasure Island FL Mortgage Syndicated User on November 1, 2023. Posted in Foreclosures, Housing Market Updates, Mortgage Treasure Island FL, Treasure Island FL Mortgage.

If you’ve been following the news recently, you might have seen articles about an increase in foreclosures and bankruptcies. That could be making you feel uneasy, especially if you’re thinking about buying or selling a house.But the truth is, even though the numbers are going up, the data shows the housing market isn’t headed for a crisis.Foreclosure Activity Rising, but Less Than Headlines SuggestIn recent years, the number of foreclosures has been very low. That’s because, in 2020 and 2021, the forbearance program and other relief options were put in place to help many homeowners...

Unmasking Scary Myths about Today’s Housing Market [INFOGRAPHIC]

Written by Treasure Island FL Mortgage Syndicated User on November 1, 2023. Posted in Buying Myths, First Time Home Buyers, For Buyers, Housing Market Updates, Infographics, Mortgage Treasure Island FL, Move-Up Buyers, Treasure Island FL Mortgage.

Some HighlightsHere’s what you really need to know about a few myths causing fear in today’s housing market.Despite common misconceptions, many people can buy a home even if they have student loans, home prices are rising nationally (not falling), and you usually don’t have to have 20% for a down payment.If you have other fears or reservations about buying a home today, get in touch with a real estate expert who can help clear those up.

Explaining Today’s Low Housing Supply [INFOGRAPHIC]

Written by Treasure Island FL Mortgage Syndicated User on October 1, 2023. Posted in Housing Market Updates, Infographics, Mortgage Treasure Island FL, New Construction, Treasure Island FL Mortgage.

Some HighlightsWondering why the supply of homes for sale is limited today? There are a few factors at play.Lack of building over time, the mortgage rate lock-in effect, and people staying in their houses longer are three of the main reasons why supply is low.But real estate agents know exactly where to look and what to do to make your dream a reality. Connect with an agent so you have an expert on your side to help you successfully navigate the market and find your next home.

Why Today’s Housing Inventory Shows a Crash Isn’t on the Horizon

Written by Treasure Island FL Mortgage Syndicated User on October 1, 2023. Posted in For Buyers, For Sellers, Foreclosures, Housing Market Updates, Mortgage Treasure Island FL, Treasure Island FL Mortgage.

You might remember the housing crash in 2008, even if you didn’t own a home at the time. If you’re worried there’s going to be a repeat of what happened back then, there’s good news – the housing market now is different from 2008.One important reason is there aren’t enough homes for sale. That means there’s an undersupply, not an oversupply like the last time. For the market to crash, there would have to be too many houses for sale, but the data doesn’t show that happening.Housing supply comes from three main sources:Homeowners deciding to sell their housesNewly built...

How Inflation Affects the Housing Market

Written by Treasure Island FL Mortgage Syndicated User on September 1, 2023. Posted in For Buyers, For Sellers, Housing Market Updates, Interest Rates, Mortgage Treasure Island FL, Treasure Island FL Mortgage.

Have you ever wondered how inflation impacts the housing market? Believe it or not, they’re connected. Whenever there are changes to one, both are affected. Here’s a high-level overview of the connection between the two.The Relationship Between Housing Inflation and Overall InflationShelter inflation is the measure of price growth specific to housing. It comes from a survey of renters and homeowners that’s done by the Bureau of Labor Statistics (BLS). The survey asks renters how much they’re paying in rent, and homeowners how much they’d rent their homes for, if they weren’t living in them.Much...

Buyer Traffic Is Still Stronger than the Norm

Written by Treasure Island FL Mortgage Syndicated User on September 1, 2023. Posted in Demographics, For Sellers, Housing Market Updates, Mortgage Treasure Island FL, Selling Myths, Treasure Island FL Mortgage.

Are you putting off selling your house because you’re worried no one’s buying because of where mortgage rates are? If so, know this: the latest data shows plenty of buyers are still out there, and they’re purchasing homes today. Here’s the data to prove it.The ShowingTime Showing Index is a measure of buyers touring homes. The graph below uses the latest numbers available and compares them to the same month in the last normal years to show just how active today’s buyers still are:As you can see, when June 2023 numbers are stacked alongside what’s typical for the housing market at this time of...

Category: Housing Market Updates